Preston Avenue , Rockwell City, IA 50579(Calhoun County)

Tract 1: 138.05 surveyed acres m/l with 135.11 FSA tillable acres carrying a CSR2 of 86.6. This large, open field can accommodate larger equipment and makes for efficient farming. On the southwest corner of this property, there is an existing railroad right-of-way that has been certified as crop ground but is not owned by the Seller and will not transfer with the sale of the property. Should the Buyer continue to farm/operate/certify as cropland those acres, it should be at their own risk.

Tract 2: Approximately 25 acres m/l (to be surveyed) with 24.82 FSA tillable acres carrying a CSR2 value of 82.7. Access to this tract will be gained from the northwest corner and the survey process has been started to include a 60 ft. wide driveway from Preston Avenue. This property includes a livestock paddock set-up for rotational grazing / holding pens with centralized water access.

The soil types on this farm are some of the best in Iowa, including Clarion loam, Nicollet clay loam, and Webster clay loam. Farmland acres are designated as NHEL (Non-Highly Erodible Land) and do not include a conservation plan.

These tracts are located in a very prominent agricultural area and have access to a variety of grain marketing options including grain elevators, livestock feed mills, and ethanol plants by way of Highway 4, Co Hwy D36, and US Hwy 20. Farming rights will be available for the upcoming 2024 crop season. The property is located in Section 32 of Center Township in Calhoun County, Iowa.

The property is located next to a State of Iowa Correctional Facility. For security purposes, any interested parties should contact the Listing Agent for permission, before entering the properties.

The farmland will be sold as two individual tracts on a price-per-acre basis to the High Bidder at a public auction on Friday, January 19th, 2024, in Rockwell City, Iowa. The tracts will be sold separately and not combined. This auction can also be viewed through our Virtual Online Auction option and online bidding will be available.

Auction Details

Calhoun County Land Auction

163.05 Acres M/L

Friday, January 19th, 2024

10:00 AM

Auction Location:

Calhoun County Expo Center

Park Road (Located in the County Fair Grounds)

Rockwell City, Iowa 50579

Online Bidding: Register to bid on our website.

Auction Method: The farmland will be sold as two individual tracts on a price-per-acre basis to the High Bidder.

Farm Program Information: Farm Program Information is provided by the Calhoun County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Calhoun County FSA and NRCS offices.

Purchase Agreement & Earnest Money: The Winning Bidder will enter into a purchase document with the State of Iowa or Related Entity immediately after the conclusion of the auction and will serve as the purchase agreement for the tract or tracts being purchased. A 10% earnest money payment is required upon conclusion of the auction and will be held in the Peoples Company Trust account. The balance of the purchase price will be due on or before the closing date of Friday, March 8th, 2024. Contact the Listing Agent to review the purchase document prior to the auction.

Closing & Possession: Closing will occur on or before Friday, March 8th, 2024. The balance of the purchase price will be payable at closing in the form of a certified check or wire transfer and will be due and payable on or before the closing date of Friday, March 8th, 2024. Possession of the land will be granted to the Winning Bidder at Closing.

Farm Lease: The farm has been custom-operated and farming rights will be open for the 2024 cropping season.

Surveys: Tract 1 has been surveyed and a survey for Tract 2 has been initiated and will be completed by the auction date. The purchase price for Tract 2 will adjust to the gross surveyed acres times the bid. The surveys will be at the cost of the Seller.

Easements: Buyer acknowledges Seller shall have and reserve an easement over the Property as it pertains to any existing utility facilities and drainage facilities servicing the Retained Parcel, including but not limited to existing facilities for purposes of communications, electric, gas, tile, and sewer; Buyer acknowledges that said easement(s) shall provide to Seller a reasonable right of access over the Property to the existing facilities; and that the Patent to the Buyer will reflect said easement(s).

Property Taxes: The property is owned by the State of Iowa, which is a tax-exempt entity, and therefore property taxes are not paid on the property. Buyer should acknowledge that there will not be a property tax proration at closing. Upon the change in ownership, the property will be added to the tax rolls and property tax will become due and payable in the future years. Contact the Listing Agent for questions related to property tax amounts and dates payable.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines may not be fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Contract & Title: Title will be granted when the State of Iowa issues a Land Patent Deed. Once all monies are received, the Buyer should allow for approximately 30 days or less for the issuance of the State Land Patent and transfer of the property Buyer. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing. Contact the Listing Agent for clarification on how the property will be transferred to the Buyer.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from the figures stated within the marketing material. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the Abstract.